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Generous depreciation allowances brings down rental income tax payables


Rental Income: Rental income earned by nonresident property owners are taxed at the standard income tax rate of 25%. Property taxes and depreciation expenses are deductible.

Capital Gains: Capital gains are taxed at a special rate of 15%.

Inheritance: There is no inheritance tax.

Residents: Residents are taxed on their worldwide income at a flat rate of 25%.

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